Once you retire from work, your corporate health insurance will cease to exist. So, it’s a no-brainer that in retirement, you need personal health insurance to cover the risk of hospitalisation expenses.
But should you wait till retirement to purchase health insurance?
I recently met a relative who is 55 and will retire in the next 4-5 years. He does not have health insurance of his own but is currently covered under his employer’s group health insurance.
He asked whether he should wait more and purchase a policy closer to retirement, or should do it now.